Tag Archives: StudentLoans

How to Finally Tackle Your Student Loans in 2017

2017 is a new year, and it might finally be time to tackle your student loans. If you are struggling with student debt, you are far from alone. More than 40 million Americans have student loans, and there is currently 1.3 trillion dollars of outstanding student debt in the economy. While others might be giving up smoking or hitting the gym for their New Years’ resolutions, this might be your time to commit to escaping that burden. Here’s a look at how to get started. How to Finally Tackle Your Student Loans in 2017 Start making extra payments: There is nothing in your student loan that says you have to pay it off in small increments. The payments most people make are the minimum required by the loan. Your lender likes it when you take this approach, because the longer it takes you to pay off your loans, the more…
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Do You Qualify for Obama’s New Student Loan Forgiveness Program?

Last week, the Obama administration made a big move towards helping people struggling under the weight of crippling student loan debt they shouldn’t have. Obama’s new student loan forgiveness program should make it significantly easier for students of for-profit schools to have their debt erased. Students and graduates who can show that they enrolled in a for-profit school as a victim of their scams and fraud will have the student loan debt they accrued to attend that school completely forgiven. This isn’t the first law created for this purpose, but the process is much more difficult, and not many people are even aware it exists. Do I Qualify for Student Loan Forgiveness? According to the new program, you can qualify to have your student loans forgiven if you can meet one or more of the following requirements: The school made “substantial misrepresentations” about the benefits it offered to those who…
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How Can Student Loan Debt Hurt My Parents?

The issue of student loan debt is continuing to make news, but little is being done to prevent an obvious bubble from bursting. Students all over the country are struggling to make ends meet, pay rent, and have enough to eat due to the sheer size of their student loan debt. Now, students aren’t the only ones suffering from huge debt. Many parents of children who have taken out student loans are using their retirement accounts and life savings to help their children get out from under the crushing weight of thousands of dollars of debt. Many more are watching their credit scores plummet while avoiding creditor harassment calls because they are cosigners on their child’s unpaid student loan debt. The problem is quickly spreading. According to a recent survey by Discover, 6 in 10 parents say that they are planning on helping their kids pay off student loans after…
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